Morocco’s popularity shade around its beautiful coasts, vibrant culture, breathtaking scenery, mouthwatering cuisine, and mesmerizing ambiance. Over the years, it has adopted another distinguishing feature that catapults its appeal to keen investors. Morocco economy is no doubt one of the best in Africa. The nation is enjoying an exceptional investment climate that can be linked to a passionate government open to providing sumptuous avenues among economic contributors in the form of large-scale and small-scale industries.
The nation is structured with outstanding business possibilities, prepared for exuberant and attentive entrepreneurs. Despite the country’s improving economy, employment opportunities still remain scarce, prompting Moroccans to create their own jobs. Our article highlights the top ten profitable business prospects in Morocco you can consider in the North African country.
# 10, Transport and logistics
Government initiatives to modernize transportation and logistics facilities have presented alluring opportunities for smaller businesses, to the point of participation as subcontractors in large-scale projects, whiles improving transportation and communications channels, allowing for easier access to target markets.
Providing private transport services at affordable fares is an absolute smart way to earn some funds. Several nations have private investors operating ride-hailing services, entourage services, rentals, and private bus services. Logistics and delivery companies such as FedEx and co are evidence of the burgeoning benefits in the transport and logistics industry for an eager entrepreneur whose heavy investment would reap massive revenue.
Its high startup cost positions it at the bottom of the pile.
# 9, Oil and Gas Supply
Morocco’s oil and gas stream is one of the world’s most productive industries. It is an important economic propeller and an impressive source of revenue. Its heavy economic contribution allows for the infiltration of small-scale businesses into the sector, even as a few entrepreneurs are capitalizing on it to launch fascinating businesses.
# 8, Hotel and Hospitality Ventures
Tourism in Morocco accounts for 7% of economic activity and employs over 500,000 inhabitants. It is evidently fruitful due to its nearness to Europe, particularly Spain and offers a plethora of unique sites, attractions, and amusement in all-year warm weather in certain areas. The political stability coupled with a generally secure environment is a key influencer.
The nation’s hotel and hospitality industries are beneficiaries of enhanced economic prospects based on the activities of tourism and are currently enjoying a growing reputation for their revenue-generating potential. The industry is a cash-strapped venture that rewards shrewd investment with comfortable remunerations; vacation rentals and homes such as Airbnb, coastal lounges, and hotel facilities, bed and breakfast, and lodges are all interesting goldmines.
# 7, Office Supplies
Office workers are often completely absorbed in their work, usually with only short breaks. Long work hours result in minimum time for self, ergo, there is little time to shop. Certain errands in and around office spaces, or the provision of needed office supplies is a service that caters to the pressing need of cluttered staff, and as such, could be rewarding to a hardworking and time-conscious entrepreneur.
Honesty and transparency is a characteristic in this line of business that would merit client trust and consequently enhance enterprise reputation.
# 6, Internet services
Internet services is approaching an era of inevitability, a phase where it seems almost impossible to avoid internet use, “a tech dawn” as usually labeled. Knowing this, a hub that is able to provide internet services at accessible rates could shoot fortunes north. Services that provide internet connectivity would thrive in a technology embracing nation that has a multitude of indwellers surfing the internet on personal devices or out on public devices in cyber cafes and so on.
Nonetheless, this is an enticing venture that requires somewhat intense startup capital since large office space is required, as well as the provision of abundant and reliable broadband to satiate client preference. It might seem all too much, however, once settled in, returns gradually wave in.
# 5, Agriculture
Prospects of Agriculture in the Moroccan nation is enviably high, contributing between 14 -20(%) of the nation’s GDP, employs over 40% of its labor force, and consequently absorbs a little over three-quarters of rural employment in Morocco. This massive economic contributor has significant potential to rake in revenue once prudent efforts are engaged.
The field is categorized primarily into;
- A rain-dependent farming culture predominantly practiced by small-scale farmers for subsistence. It is a field where crops such as barley, wheat, cereals, grains, and olives among a few, are grown, usually in tandem with the rearing and production of livestock. The heavily rain-reliant nature of agriculture in this sector ties rainfall to its gross annual agricultural product. Hence, rainfall decides somewhat the economies of these regions.
- A market-oriented farming system that supplies produce for trade, usually in large quantities, as well as exports, accounting for 75% of the export of agricultural products and a 45% GDP contribution. This field consists of a capital-intensive farming system that thrives off agricultural export by employing advanced techniques for their operation, where average farm sizes lie within 5.7 ha for about 70% of farmers within the region. There are regions within this field that develop integrated irrigated schedules to facilitate production. The Atlantic coast for instance is laced with extensive plains that accommodate the growth of olives, citrus, wine grapes, and so on with irrigation schemes.
All in all, agriculture in the nation represents a stable income source that is attracting positive interest by the nation’s government which has glittered the agricultural industry with fetching incentives intended to stimulate farmers.
# 4, Telemarketing Cloth Sales
Social media has its perk but its marketing potential is really the cream of the crop. A tall list of user-friendly interfaces that permit communication also serves as online market hubs. Products and services are advertised to a large audience via images and captions and delivered mostly by a host of eager delivery services.
Given this platform, and the inert human desire to acquire quality merchandise at competitive bargains, adopting a telemarketing strategy to exhibit on-sale clothing; second hand/reduced sale, could be secure income.
Facebook, LinkedIn, Twitter, Tumblr, Instagram, Snapchat, Pinterest, Alibaba, and Facebook’s WhatsApp messenger, among others, are among the dominant platforms to explore for success in this business venture.
# 3, Barbering Salons
Barbering salons are easily one of the most cost-effective ventures to explore as a start-up in Morocco, Particularly with meticulous planning and insightful management. Men and even some women frequent barbershops and salons at least every two weeks, to receive hair trims or a clean shave.
Due to its usually inconspicuous minimal startup capital and surmountable maintenance cost, people assume the field to be a no lucrative venture, which is often not the case as most salon owners are successful entrepreneurs.
Certain hacks improve the number of clientele visits and are critical to observe once venturing into the salon enterprise. Location is as important as skilled personnel when it comes to setting up a salon, as a facility established in popular and accessible precincts would skyrocket patronage and subsequently increase earnings. Residential areas, busy roads, and so on are advantageous locations to be considered. A furnished workspace lined with aesthetic designs, up-to-date equipment, and a welcoming environment earns recommendations that increase the number of customers.
# 2, Tutoring
Education remains a vital foundation for a strong professional career as well as intellectual growth, hence parents worldwide strive to provide quality education for their wards. This opens up several opportunities for anyone with appropriate qualifications to provide services that provide respectable remuneration. Tutors are advantaged, as most parents are inclined to after-school tutoring services for handsome fees.
It is vital however that a target class is identified to maximize efficiency. For instance, an English language tutor in an Arabic-speaking nation would be extensively sought after. Tuition that coaches final year examination candidates privately would be handsomely rewarding, with available converging space as little as a living room space or as large as an auditorium.
Home services are also an indulging sector of tutoring whereby a teacher, mentor sometimes, provide teaching services in the homes of clients. It requires financially punctual parents who agree on a monthly fee, forward tuition in homes.
For entrepreneurs without the qualifications, a handy skill set could be highly coveted, particularly in the areas of sports, music, art, or even I.C.T.
# 1, Restaurants/Eatery
Restaurants have been brandishing millionaires in Morocco for generations. Food options are usually broad with a diverse array of eateries, yet, there always seems to be room for more. Why? A peaking demand for food across the globe necessitates the establishment of eating facilities and restaurants.
Food is a basic requirement, and its demand will never decrease, resulting in a profit-generating industry. This enterprise will naturally favor staff with average-advanced culinary skills, strapped with a desire to work for perfection and maintaining product integrity whiles providing quality food services to a trusting consumer base.
